Weekly Report - 01 November 2018

CHILE: The political cost of pension reform

Chile’s privatised pension system is widely admired. Brazilian president-elect Jair Bolsonaro is promising to introduce a Chilean-style defined contributions system to solve his country’s pension crisis. But there is a problem. Most Chileans do not actually think their system is very good at all. President Sebastián Piñera has just announced a set of pension reforms; getting them through congress could turn out to be a politically costly affair.